Integrated Development Program for the Pilot Regions

Those wishing to participate in programs/projects must submit applications only in Georgian.

Procedure for receiving the application

Loan applications of potential beneficiaries will be accepted under the program at the Agency’s partner commercial banks:

After approval of the loan, the commercial bank shall, prior to granting the loan, give information in writing to the beneficiary on the approved loan options, which the beneficiary sends to the Agency by e-mail: pilotregions@rda.gov.ge with the application for financing.

Application review and approval procedure

After reviewing the written information, if the Agency determines the compliance of the approved loan terms and criteria with the program, procedure and the agreement concluded with the bank, the Agency makes a positive decision and sends information to the beneficiary and the bank.

Concluding an agreement

After approval of the funding, the Agency enters into a trilateral agreement with the beneficiary and the bank.

A commercial bank is authorized to issue an approved loan only after a trilateral agreement has been concluded between the Agency, the bank and the beneficiary, but no later than within 30 calendar days after conclusion of the agreement. If the financial institution fails to provide the loan / tranche within 30 calendar days, the trilateral financing agreement concluded by and between the Agency, the financial institution and the beneficiary will be terminated.

Procedure for payment of funding

After receiving the information on the issuance of the loan, the Agency transfers the amount to the special account of the Agency in the commercial bank in the amount of not more than 60% of the loan amount. The Agency’s obligation of funding is deemed to be fulfilled upon transferring this amount to the beneficiary’s account.

The Agency’s funding amount will be deposited to the Agency’s account in a commercial bank, which may be used only to fund beneficiaries.

After the beneficiary fulfills the purpose of the loan, which must be confirmed in accordance with a contract and an agreement, in case of consent of the Agency, the bank will transfer no more than 30% of the loan amount from the Agency’s account to the beneficiary’s account, which the beneficiary will use at its own discretion.